Latest News

Keeping you up to date on what's happening at the firm and with issues and regulations impacting your business.

Companies with chartered-in fleets face changing rules when presenting their accounting statements.Although it will have little impact on actual cash flows, investors and creditors will have to adjust their performance measurements to account for the changes.A year ago, Although it will have little impact on actual cash flows, investors and…

Small business owners are used to assuming multiple roles within their companies including working on accounts and sales, human resource tasks, marketing and accounting. This is a common approach because of the lack of resources to hire dedicated professionals for each function. However, when business growth occurs the demands change…

Tax time – it comes once a year, but unlike the holidays, it’s certainly not as festive or well-received. It can be an anxious period, as taxpayers compile essential documentation showing their income, withholdings, financial transactions (such as a new home purchase or the sale of stocks or bonds), and…

New regulations by the Treasury Department proposed earlier this year, formally entitled “Estate, Gift and Generation-Skipping Transfer Taxes; Restrictions on Liquidation of an Interest Regulations” (the Section 2704 regulations”) has business owners, accountants, and estate attorneys considering the best approach to deal with the potential for significantly higher estate tax…

Brexit Is a Reality – Now What? By Jesper Rindboel, CFA, FRM – Portfolio Manager, 1st Global Investment Management Research Group (IMRG) With the U.K.’s exit from the European Union — the Brexit — now a reality, there is a great level of uncertainty among investors as they try to discern…

Your 401(K) may be the best retirement planning tool you have. Do you have a million dollars? At the moment, probably not. But if you invest and save diligently and let your assets compound, who knows? You may be a millionaire someday. In fact, you may need to be a…

The Financial Accounting Standards Board (FASB) in the United States has issued a lease accounting standard update following the release in January 2016 of an International Financial Reporting Standard (IFRS) dealing with the same subject. Although it had been expected that the FASB and IFRS standards would be identical, there…

Background The Patient Protection and Affordable Care Act of 2010 (the “ACA”) imposes significant information reporting responsibilities on certain employers starting with the 2015 calendar year. These employers must file annual information returns with the Internal Revenue Service (the “IRS”) and provide annual statements to their employees containing health plan…

MSPC is pleased to announce that we have been named to Inside Public Accounting’s Top 300 firms. This definitive list was developed by gathering information from more than 500 firms that completed IPA’s Survey and Analysis of Firms. Many professional associations also aided in the search for firms to add…

Every Monday for the past couple of months, MSPC have encountered some pretty fierce opponents in a series of friendly (yet competitive!) softball games. On Monday August 3rd, the team faced Frank’s Pizza in the finals and ’knocked it out the park’ winning by a score of 9-1, earning MPSC…

A program designed to align motivating professionals, leadership, strategy and organization. MSPC Managing Partner Jim Flannery and Tax and Audit Principal Jon Gagliardi attended the Moore Stephens Executive Leadership Program hosted by Harvard Business School on Sunday, May 17, 2015 to May 21, 2015 at the Harvard Campus in Boston,…